Here’s An Opinion On:
60 Year Old Loses Retirement to the Market
by
Michael Romsleo
Times are different. Markets have changed. The economy is tumbling to historical lows. People who loved getting those great returns in the stock market have not only lost their gains, but their principal too.
“It’s not so much a return on your money than a return OF your money that’s important”, Warren Buffet once said. Many Americans would have surely enjoyed a 0% return on their investment in 2008, rather than the depressing negative returns they received.
But is there a method through which one can generate decent returns on their money, while guarding against any downside risk?
Americans have discovered through the current debacle that 401Ks, IRAs, mutual funds and most things related to the stock market are mostly defective. So many people who were set to retire in 2009 now must work another 10 years to get back what they lost to the market the year before.
Did anyone see this coming? Many experts did, but had no idea when and to what extent of turmoil our country and world, for that matter, was going to suffer. But how long must we suffer?
It is a matter of having the best tools, rebuilding slowly, but surely, to create a retirement worth looking forward to. It does take a little discipline, but more importantly, it takes the right person to help.
According to the Social Security Administration, only 4% of Americans will ever reach financial independence. (Source: U.S. Department of Health and Human Services, SSA Pub. #13-11871). Another statistic states that only 4% of Americans actually seek the advice of a financial planner or wealth strategist.
To throw another curveball, not all financial advisors are really out to help you. It’s not always their fault. It’s simply that the only system they know is flawed. Does it make sense that an advisor, who just lost a ton of their clients’ money, is still receiving a percentage of that account?
A competent financial advisor will help you beat these two battles: taxes and inflation. To become part of the 4%, these two battles must be won.
Imagine if you didnt have to work another day in your life. You had put away enough into your nest egg, safely, so that the return from that nest egg paid you even more than what you make now on a monthly basis. What if you worked only because you wanted to make a difference in other peoples’ lives? But your life was basically a life-long vacation. And you could do whatever, whenever, however, with whomever, without having to worry about money.
Say hello to retirement. Say hi to financial freedom.
Don’t be too discouraged about the economic turmoil and your retirement. There really are ways to create
financial indepenence
without losing to the market. Ask a
financial advisor
who can assist you achieve your financial goals.
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60 Year Old Loses Retirement to the Market}